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Conference 7.286::dcu

Title:	DCU
Notice:	1996 BoD Election results in 1004
Moderator:	CPEEDY::BRADLEY

Created:	Sat Feb 07 1987
Last Modified:	Fri Jun 06 1997
Last Successful Update:	Fri Jun 06 1997
Number of topics:	1041
Total number of notes:	18759

111.0. "Used Car Loans " by NANUCK::SIEWERT (Doug Siewert @MPO) Thu Jul 07 1988 18:54

    Those of us in the field have just been informed that the Plan A
    company car plan is being phased out.  One of the alternatives being
    offered to us is to buy our current company car.  Financing is being
    offered by DCU at 12.7% with 20% down.  
    
    I called the IBM credit union (my father-in-law works for IBM) and
    they offered me a 4 yr loan for 9.9% and will finance 100% of the
    purchase price.
    
    This seems like an incredible difference to me!  Is the DCU not
    trying to be competitive, or is the IBM CU way undercutting the
    marketplace?
    
    Doug (Who would rather get a loan from DIGITAL, but can't at these
    prices!)

T.R	Title	User	Personal Name	Date	Lines
111.1	Not anywhere near competetive!!	REGENT::GETTYS	Bob Gettys N1BRM 223-6897	`Thu Jul 07 1988 21:21`	13
	I just recently got a 5 year loan at a local (Framingham) Credit Union for a new car at 9.5% and nothing down (I did have something that I put down, but it was NOT required). They would have financed the entire cost of the car if I had wanted them to. I also have for NO CHARGE life insurance on the first 15K of the loan. I will be fully covered as soon as the principal goes below 15K (about 6 months into the loan). At the same time DCU wanted something in the 11% range with somewhere in the 10-25% down range. Sure doesnt sound like they wan't to be competetive!! /s/ Bob
111.2	(Sigh)	BINKLY::WINSTON	Jeff Winston (Hudson, MA)	`Thu Jul 07 1988 23:38`	5
	The funny thing is when I talked to someone in the DCU communications department a while ago about why they were pushing home equity, mortgages, and the like - the answer was that other loan-related fee and interest income was dropping. Now I'm beginning to understand why...
111.3	Get the best deal you can	DR::BLINN	I'm pink, therefore I'm Spam	`Fri Jul 08 1988 14:53`	3
	As always, if you can get a better loan elsewhere, do it! Tom
111.4	Good Car Loan Pricing	STAR::BUDA	I am the NRA	`Tue Nov 16 1993 12:16`	25
	Here are some CAR LOAN prices for those who are interested: NEW APR* Financing 5.9% 6.105% 80% 6.9% 7.106% 90% 7.9% 8.106% 100% * APR calculation is based on a loan of $10,000 including application fees for a 48 month term. These rates are available for 24-60 month terms. Over 48 months requires a car of $15,000 value or more. USED APR 7.25% 7.457% 1991-1993 models APR calculation is based on a loan of $10,000 including application fees for a maximum term of 48 months. Financing is also available for older model vehicles. Granite State Credit Union 464 Chestnut Street Manchester, NH 03108 (800)446-0285 Insured by NCUA